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Friday, March 16, 2018

March 16 Update: Rogers and Fido Mastercards being devalued, bonus Infinity MileageLand Miles out of YYZ/YVR & more

Yesterday morning Rewards Canada reader J Smith commented on our feature for No Foreign Transaction Fee Credit Cards for Canadians letting us know that there once again changes happening to the Rogers Platinum Mastercard and Fido Mastercard. It hasn't been too long that these cards underwent changes and now they are at it once again - and the changes, for the most part, aren't good.  You can read all about the changes here.


The good news is strictly on the Rogers Platinum Mastercard and that is the annual fee is being removed as of March 13. The card normally carried a $29 annual fee but that was waived if you were a Rogers customer so the card is now a no fee card for everyone.

On to the bad news, the two cards are being devalued on the rewards side. The big bright spot for both cards was 4% cash back on foreign transaction purchases, hence it being featured in the No Foreign Transaction Fee Credit Cards piece. The cards do have a 2.5% foreign exchange fee which meant you came out 1.5% ahead on all those non CDN$ purchases. Well as of May 23 the earn rate for foreign transactions becomes 3%. So you'll still come out ahead but only by 0.5% now.. On all other spending the Rogers card earns 1.75% cash back and also as of May 23 that is being dialed back to 1.25% on almost all purchases - they will award you with 2% on Rogers products and services. The Fido card drops from 1.5% on all purchasese to 1.25% except once again they'll offer 2% on Rogers products or services. So really they are taking away quite a bit from current or future cardholders. Sure you have no annual fee but losing one point on foreign purchases and half a point on almost all other purchases hurts more than not having the annual fee.


Posts since our last update:

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